Victory to Sell Nickel Property, Invest in Frac Sand

Victory Nickel Inc of Toronto, ON has entered into an asset purchase agreement with Silver Elephant Mining Corp of Vancouver, BC for the conditional sale of its Minago nickel property in northern Manitoba. Victory’s compensation is to include US$5 million in Silver Elephant common shares.

In addition to significant ownership of Silver Elephant shares, Victory will continue to own the 7P sand processing facility near Medicine Hat, AB. Victory has also identified a significant frac sand resource in close proximity to the 7P plant which will allow it to compete in the market for domestic frac sand and retains an option to exploit an 11 million ton National Instrument 43-101 sand resource on the Bear Coulee frac sand property located in Trempeleau County, WI.

Volume 35, Issue 02

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